Deccan Chronicle tanks 5% as NSE suspends trading

NEW DELHI: Deccan Chronicle Ltd slipped nearly 5 per cent in early trade on Wednesday on reports that the National Stock Exchange has decided to suspend trading in its equities from January 23 for its failure to comply with the provisions of listing agreement.

In a communique to stock brokers, NSE said though it served notices on the company, it did not respond satisfactorily to them. "The NSE, in a circular to members during early trading hours of Tuesday, said the trading in DCHL equities will be suspended by the closing hours of January 22," ET reported.

At 09:50 am, Deccan Chronicle was locked in lower circuit at Rs 6.82, down 4.8 per cent.

When contacted, a BSE spokesperson told ET that the exchange is yet to suspend trading in DCHL's equities. He said the media company did not submit to them its shareholding pattern, corporate governance report, financial results and reconciliation of share capital audit report for the September quarter